Published: Wed, September 13, 2017
Global News | By Stacy Ballard

European Union will apply United Nations sanctions against North Korea

European Union will apply United Nations sanctions against North Korea

The Security Council was poised on Monday to vote on weakened sanctions to punish North Korea for its nuclear and missile programmes after a week of negotiations that pitted the United States against China and Russian Federation.

He said the Norths access to hard currency was its “Achilles heel.” He urged the administration to “dramatically ramp up” US sanctions designations of entities that deal with North Korea, particularly Chinese banks.

"Chemical agents, in general, used in a military context can be loaded into bombs, mines, mortars, that type of thing", Hugh Gregg, from the Organisation for the Prohibition of Chemical Weapons, said.

North Korea is "ready to use a form of ultimate means", Han said.

Last Tuesday, the US circulated a draft resolution proposing the toughest-ever United Nations sanctions on North Korea, including a ban on all oil and natural gas exports to the country and a freeze on all foreign financial assets of the government and its leader, Kim Jong Un.

He called on anyone aware of efforts to enable North Korean trade to come forward before getting caught, warning: "We are closing in on North Korea's trade representatives".

What little money North Korea does have goes right to the top, according to Park.

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"It mixes both illicit and licit activity and creates that kind of support internally in North Korea to keep the leadership and the elite happy".

Here's where it gets that cash.

North Korea has a mysterious government department, known as Office 39, that operates as a kind of royal slush fund.

"I could also imagine such a format to settle the North Korea conflict", she said. It estimated that North Korea managed to export at least $270 million of banned commodities between February and August.

Russia's strategic concerns would, therefore, make it hard to renegotiate the 1987 Intermediate Range Nuclear Forces (INF) treaty, something arms experts say would be required if a North Korean missile shield were to be fully effective.

One common view in Beijing is that Trump's war rhetoric has only made Kim more insecure, prompting him to accelerate his weapons program.

A person answering the customer hotline at the world's largest lender, Industrial and Commercial Bank of China Ltd (ICBC) 601398.SS , said the bank had stopped opening accounts for North Koreans and Iranians since July 16. China, Pyongyang's main economic ally, supplies most of North Korea's crude oil.

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It bars countries from issuing new work permits to North Korean labourers sent overseas and seeks to phase out the practice by asking countries to report on the date for ending existing contracts.

"Asking whether we will be able to enforce the new rules is the same question as asking how tight our know-your-client checks are", said a senior corporate banker at the Bank of China who declined to be identified because of the sensitivity of the matter.

Under the measure, countries are authorised to inspect ships suspected of carrying banned North Korean cargo but must first seek the consent of the flag-state.

"North Korea's national insurance company was able to operate in the United Kingdom", she said.

"I, for instance, ran into a waitress in Moscow when I was visiting at a North Korean restaurant who spoke four languages, was very attractive, very bright". "The North Korean regime has not yet passed the point of no return".

Last week, after North Korea conducted its sixth and most powerful nuclear test, Nikki Haley, the US ambassador to the United Nations, called for the toughest possible sanctions.

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